can an employer fire you for bad credit?

Answer 1

Unfortunately, most states don't even require a reason for firing an employee. If someone in a management position there does not like you for whatever reason, they may have decided to use this as a way to fight having to pay your unemployment should you choose to file.

Answer 2

It depends on the nature of the job and whether all people in your position are treated the same. Many companies review credit before hiring and some do review after. As long as they can show that the bad credit affects your ability to do the job, they can pursue termination. For example, if you're a private banker and handle lots of money, if you are on the edge of bankruptcy, your employer could assert that your troubled financial situation puts you at risk of stealing other people's money.

Answer 3

Depends on the Employer's policies. Does it state it in employee handbook? If it doesn't then they should not be able to. At the old bank I used to work at they would pull credit in order to determine whether to hire someone. One of the girls that worked there later on ended up filing bankruptcy and also had included on there one of the bank's loans. She was concerned about her job and called personnel about it and they said it would not effect her job. Let me just note that she was not a great employee either.

Answer 4

Yes, especially if you are in a job that requires financial transactions or security clearance.

In fact, many states allow an employer to fire you for ANY reason.

Answer 5

Yes, depending on the position. Sometimes bonding or insurance or licensing requirements might specify credit scores have to be above a certain level. Or it could even be company policy.

Might keep you from getting promotions even if they don't fire you.

Answer 6

Sometimes, yes. Especially if they mention that is their policy in your contract or some official notice well beforehand.

For certain feilds, particularly government contracts or the like which require a security clearance, a sudden downturn in credit rating is an automatic, no-questions-asked grouds for firing.

Answer 7

If you are working in a financial facility they can certainly not hire you because of your bad credit. If your credit has declined since getting the job they wouldn't run annual credit checks so if you already have the job your probably safe.

Answer 8

I don't think Employers have a right to know about your
credit, your report doesn't give an explanation on how
you got there and shouldn't be considered, nor does
it pertain to your work ethics.

Answer 9

Usually not unless it was in a contract signed by you upon being hired or unless the company policy states such a thing

Answer 10

If you are an at-will employee (not contracted) then yes. They can fire you for any reason or no reason at all.